NEWS ROUNDUP: Serena Williams Eliminated From Rio Olympics…AND MORE

Williams lost in the third round of the singles matches against Ukraine’s Elina Svitolina.

Tennis star Serena Williams has been eliminated from the 2016 Rio Olympics. Williams lost in the third round of the singles matches against Ukraine’s Elina Svitolina on Tuesday night. She fell short 6-4, 6-3. Instead of doing a press conference following the competition, Williams released a statement through a spokesperson for Team USA. “Obviously I’m disappointed,” she said. “The better player won. It was a great opportunity that didn’t work out the way I wanted it to. At least I was able to make Rio, which was one of my goals. It was awesome, but it’s over now.” Williams was also eliminated from the doubles on Sunday night along with her sister Venus. This will mark the first time in four years that Williams won’t be returning home from the Olympics with accolades. Read more.

Study: Black Families Would Need 228 Years to Reach the Wealth of White Families Today

A new study shows a major racial gap in regards to the accumulation of wealth in our country. The report revealed that it would take the average African-American family 228 years to reach the wealth that a White family has today, if present economic trends persist. The study showed that the average wealth for White households grew by 84 percent between the years 1983 and 2013. This percentage was three times more than African-Americans and 1.2 times more than Latinos. During that span of time, Reaganomics policies were implemented, international trade grew, and the country faced two major economic setbacks. If economic trends continue to carry on for another three decades, the net worth of White families will grow by $18,000 per year, and African-American families would only see an extra $750 per year. “The racial wealth divide is how the past shows up in the present,” said Chuck Collins, one of the authors of the report. “We have a deep legacy of wealth inequality that undermines the whole idea that we have a meritocracy—that there’s an equal playing field.”Read more.

Chicago Gangs Look to Retaliate for Paul O’Neal’s Death

According to reports, local gangs in Chicago are allegedly targeting cops to seek revenge for the shooting of an African-American teenager. Paul O’Neal, 18, was slain by a police official on July 28. Members of the Vice Lords, Black Disciples, and Four Corner Hustlers allegedly met to come up with a plan to seek retaliation. The Chicago Sun-Times is reporting that the Four Corner Hustlers have provided firearms. Chicago police spokesman Anthony Guglielmi refused to comment on the matter, claiming,“The department does not comment on any security measures.” The president of Lodge 7 of the Fraternal Order of Police, Dean Angelo, says the allegations are false and are being spread by the victim’s family attorney and the Independent Police Review Authority. “We had inflammatory and false rhetoric coming from (Michael Oppenheimer) and statements that weren’t true,” said Angelo. “You also have a lead investigator in police-involved deaths talking about how shocking and disturbing this is.”Read more.

Poll Shows Black and Latino Youth Are More Scared of White Extremists than Foreign Terrorists

A new poll revealed that Black and Latino youth are more scared of threats from Whites in the U.S. than terrorists from other countries. The poll, which was conducted by GenForward, showed that 65 percent of African-Americans and 65 percent of Latinos are worried about violence being carried out by White extremists. The report also showed that 49 percent of Black youth are concerned about foreign extremists and 56 percent of Latinos feel the same way. The poll was conducted to highlight “the absence in voice of young people, specifically those of African-American and Latino backgrounds.” “The GenForward Survey is the first of its kind—a nationally representative survey of over 1750 young adults ages 18-30 conducted monthly that pays special attention to how race and ethnicity shape how respondents experience and think about the world,” reads GenForward’s website. Read more.

Whoopi Goldberg to Executive Produce New Series about Transgender Models

Whoopi Goldberg is joining forces with Oxygen for a show that will follow the journeys of multicultural transgender models. The show, titled Strut, will delve into the lives of Dominique Jackson, Isis King, Laith De La Cruz, Arisce Wanzer, and Ren Spriggs as they try to make their mark in the fashion industry. “Our models come from all walks of life, all different backgrounds and ethnicities. They are struggling with things we can all relate to – trying to make ends meet, fighting to make a name for themselves and navigating the minefields of personal relationships,” said Whoopi Goldberg, who is executive producing the project. “All of these struggles are amplified by the fact that they are also fighting to break down barriers and taking on the responsibility of representing the transgender community in today’s society. It’s time to separate caricature from real people and that’s what we are doing with ‘Strut.’” The show will be created under 44 Blue Productions and One Hoe Productions. It’s slated to premiere on Oxygen on September 20. Read more.